Press Releases

BPG ANNOUNCES ACQUISITION OF 200 LAWRENCE DRIVE IN WEST CHESTER, PA FOR $19,750,000

<p><b>PHILADELPHIA, PA. – (September 5, 2012) –</b>BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today that one of its operating affiliates acquired a two-building portfolio in Chester County, Pennsylvania from a publicly traded REIT. </p> <p>The first building is 200 Lawrence Drive, an 111,451 square foot, office and research and development complex in West Chester, Pennsylvania. The complex is 100 percent leased to Animas Corporation, a Johnson & Johnson Company. A leading medical device company, Animas designs, develops, and distributes insulin pumps from this building, which serves as its Headquarters. 200 Lawrence Drive was originally built in 1997 and renovated in 2003. The building enjoys easy access to Route 202, Route, 3, The Brandywine Airport, and close proximity to many biotechnology companies located along the 202 Corridor in Chester County. </p> <p>The second building is 210 Welsh Pool Road, a 59,415 square foot office, lab, and research and development complex in Exton, Pennsylvania. The complex is 100% leased to Morphotek, a biotechnology company and subsidiary of Eisai Co. Ltd. Morphotek develops biological-based products to treat cancer, inflammation, and infectious diseases. </p> <p>The acquisition of both buildings was made on behalf of BPG Investment Partnership IX, L.P., the firm’s recently formed value-add real estate fund. 210 Welsh Pool Road was conveyed immediately to The Clemens Family Corporation as part of a tax-deferred exchange transaction. BPG’s affiliate will continue to own and operate 200 Lawrence Drive. </p> <p>The seller was represented in the transaction by Doug Rodio of Jones Lang LaSalle. </p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at www.bpgltd.com. <p> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363 <p> <b>For additional information on the property, please contact: </b><br> George Haines, Vice President, 215-575-2493<p>